Associated Banc-Corp Files 2024 Annual Report

TL;DR

ASB filed its 2024 10-K. All good.

AI Summary

Associated Banc-Corp (ASB) filed its annual report for the fiscal year ended December 31, 2024. The company is incorporated in Wisconsin and its principal executive offices are located at 433 Main Street, Green Bay, Wisconsin. ASB is registered with the SEC under file number 001-31343 and its common stock trades on the New York Stock Exchange under the symbol ASB.

Why It Matters

This filing provides a comprehensive overview of Associated Banc-Corp's financial performance and business operations for the past fiscal year, offering insights for investors and stakeholders.

Risk Assessment

Risk Level: low — This is a standard annual report filing with no immediate red flags or unusual disclosures.

Key Numbers

• 39-1098068 — I.R.S. Employer Identification No. (Identifies the company for tax purposes.)
• 001-31343 — Commission file number (SEC filing identifier.)

Key Players & Entities

• Associated Banc-Corp (company) — Registrant
• December 31, 2024 (date) — Fiscal year end
• Wisconsin (location) — State of incorporation
• 433 Main Street, Green Bay, Wisconsin 54301 (location) — Principal executive offices
• 001-31343 (other) — Commission file number
• ASB (ticker) — Common stock trading symbol
• New York Stock Exchange (company) — Exchange for registered securities

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share ASB New York Stock Exchange
• $38,239,128 — ant was $ 3,150,869,057 . This excludes $38,239,128 of market value representing the outsta
• $58,526,090 — may be deemed affiliates. This includes $58,526,090 of market value representing 1.84% of t
• $1,000 — Stock, Series E, liquidation preference $1,000 per share Series F Preferred Stock The

Filing Documents

• asb-20241231.htm (10-K) — 7269KB
• a4fdescriptionofsecurities.htm (EX-4.F) — 182KB
• a19insidertradingpolicy.htm (EX-19) — 60KB
• asb12312024ex21subsidiarie.htm (EX-21) — 5KB
• asb12312024ex23kpmgconsent.htm (EX-23) — 3KB
• asb12312024ex24powersofatt.htm (EX-24) — 12KB
• asb12312024ex311.htm (EX-31.1) — 9KB
• asb12312024ex312.htm (EX-31.2) — 9KB
• asb12312024ex32.htm (EX-32) — 6KB
• asb-20241231_g1.jpg (GRAPHIC) — 126KB
• asb-20241231_g2.jpg (GRAPHIC) — 675KB
• asb-20241231_g3.jpg (GRAPHIC) — 725KB
• asb-20241231_g4.jpg (GRAPHIC) — 436KB
• asb-20241231_g5.jpg (GRAPHIC) — 704KB
• asb-20241231_g6.jpg (GRAPHIC) — 200KB
• image.jpg (GRAPHIC) — 9KB
• 0000007789-25-000013.txt ( ) — 42316KB
• asb-20241231.xsd (EX-101.SCH) — 116KB
• asb-20241231_cal.xml (EX-101.CAL) — 230KB
• asb-20241231_def.xml (EX-101.DEF) — 991KB
• asb-20241231_lab.xml (EX-101.LAB) — 1666KB
• asb-20241231_pre.xml (EX-101.PRE) — 1347KB
• asb-20241231_htm.xml (XML) — 8466KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 42 Item 1C. Cybersecurity 42 Item 2.

Properties

Properties 43 Item 3.

Legal Proceedings

Legal Proceedings 44 Item 4. Mine Safety Disclosures 44 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters And Issuer Purchases of Equity Securities 47 Item 6. [Reserved] 48 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 49 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 80 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 81 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 153 Item 9A.

Controls and Procedures

Controls and Procedures 153 Item 9B. Other Information 156 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 156 PART III Item 10. Directors, Executive Officers and Corporate Governance 156 Item 11.

Executive Compensation

Executive Compensation 156 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 156 Item 13. Certain Relationships and Related Transactions, and Director Independence 156 Item 14. Principal Accounting Fees and Services 156 PART IV Item 15. Exhibits and Financial Statement Schedules 157 Item 16. Form 10-K Summary 160

Signatures

Signatures 160 ASSOCIATED BANC-CORP Commonly Used Terms The following listing provides a reference of common acronyms, abbreviations, and other defined terms used throughout the document: 2020 Plan 2020 Incentive Compensation Plan ABL Asset-Based Lending ACL Allowance for Credit Losses on Loans and Investments ACLL Allowance for Credit Losses on Loans ADC Acquisition, Development, or Construction AFS Available for Sale AI Artificial Intelligence ALCO Asset/Liability Committee AML Anti-Money Laundering Associated / Corporation / our / us / we Associated Banc-Corp collectively with all of its subsidiaries and affiliates Associated Bank / the Bank Associated Bank, National Association ASU Accounting Standards Update ATM Automated Teller Machine ATR Ability-to-Repay Basel III International framework established by the Basel Committee on Banking Supervision for the regulation of capital and liquidity BHC Act Bank Holding Company Act of 1956, as amended bp basis point(s) BSA Bank Secrecy Act BTFP Bank Term Funding Program CAMELS Capital adequacy, Asset quality, Management, Earnings, Liquidity, and Sensitivity CAN-SPAM Act Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003 CCPA California Consumer Privacy Act CDs Certificates of Deposit CDIs Core Deposit Intangibles CECL Current Expected Credit Losses CET1 Common Equity Tier 1 CFPB Consumer Financial Protection Bureau CFT Countering the Financing of Terrorism CIO Chief Information Officer CISO Chief Information Security Officer CMO Collateralized Mortgage Obligation CPRA California Privacy Rights Act CRA Community Reinvestment Act CRE Commercial Real Estate CRO Chief Risk Officer CRG Colleague Resource Group DEI Diversity, Equity and Inclusion DIF Deposit Insurance Fund Dodd-Frank Act Dodd-Frank Wall Street Reform and Consumer Protection Act DOJ Department of Justice DOL Department of Labor DTAs Deferred Tax Assets DTI Debt-to-Income EA

Business

ITEM 1. Business General Associated Banc-Corp is a bank holding company registered pursuant to the BHC Act. Our bank subsidiary, Associated Bank, traces its history back to the founding of the Bank of Neenah in 1861. We were incorporated in Wisconsin in 1964 and were inactive until 1969 when permission was received from the Federal Reserve to acquire three banks. At December 31, 2024, we owned one nationally chartered commercial bank headquartered in Green Bay, Wisconsin, which serves local communities across the upper Midwest, one nationally chartered trust company headquartered in Milwaukee, Wisconsin, and 12 limited purpose banking and nonbanking subsidiaries either located in or conducting business primarily in our three-state branch footprint (Wisconsin, Illinois, and Minnesota) that are closely related or incidental to the business of banking or financial in nature. Measured by total assets reported at December 31, 2024, we are the largest bank holding company headquartered in Wisconsin. Services Through Associated Bank and various nonbanking subsidiaries, we provide a broad array of banking and nonbanking products and services to individuals and businesses through 188 banking branches as of December 31, 2024, serving more than 100 communities, primarily within our three-state branch footprint. Our business is primarily relationship-driven and is organized into three reportable segments: Corporate and Commercial Specialty; Community, Consumer, and Business; and Risk Management and Shared Services. See Note 20 Segment Reporting of the notes to consolidated financial statements in Part II, Item 8, Financial Statements and Supplementary Data, for additional information concerning our reportable segments. 3 We are not dependent upon a single or a few customers, the loss of which would have a material adverse effect on us. Human Capital Matters We are very fortunate to have a team of approximately 4,000 colleagues at December 31, 2024 who are capable, de

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View this 10-K filing on SEC EDGAR